Atreya Resorts for Traditional Healing Pvt. Ltd, which provides health and wellness services under its Arth Ayurveda brand, has raised an undisclosed amount from ad-for-equity investment arm of media firm Bennett, Coleman and Company Ltd (BCCL), a person privy to the development told VCCircle.
The Bangalore-based company, which was founded by Prashanth S Acharya and Rajat Gupta, provides a range of ayurvedic solutions for weight, hair, stress, diabetes, neurological and spine and joint problems. Acharya has been an ayurvedic medical practitioner and consultant with over two decades of experience. Gupta also has over two decades of experience in the ayurvedic space and has worked as CEO of Shri Ramdhara Laboratories Pvt. Ltd. Arth Ayurveda directors also run Ayurvedic Medical College, Hospital & Research Centre in Bangalore.
The company intends to use the funds for expansion of its wellness centres across South India through both self-run and franchised units, the person said.
Arth Ayurveda plans to launch its own products brand under Ayurpharma. It plans to sell the products through its centres besides medical college hospitals, a company-owned online portal, besides third-party online pharmacies and chemist shops. The firm also aims to expand its presence to overseas markets.
Although Brand Capital invests in lieu of ad space across BCCL's media publications that include The Times of India and The Economic Times among others, it also invests a small amount as cash in some portfolio firms. Its investments are largely in consumer facing ventures and it uses ad as a currency to pick stakes.
BCCL also runs online realty listing portal MagicBricks, which competes with various firms including PropTiger. News Corp, the parent of this news website, owns a stake in PropTiger.
Boutique advisory firm Vgro Global Finserv Pvt. Ltd was the exclusive advisor to the company on the deal with BCCL.
Email queries sent to Atreya Resorts for Traditional Healing, BCCL and Vgro Global did not elicit an immediate response.
The preventive healthcare and wellness space has seen strong growth due to rising disposable incomes and health awareness among customers. The sector saw some private equity and merger and acquisition activities recently.
Mid-market private equity firm Ambit Pragma Ventures Pvt. Ltd invested in health management company Vidal Healthcare Services Pvt. Ltd last month.
Mobile health firm Grow Fit acquired nutritional beverage platform Drink King that will help the firm expand its offerings in the preventive health and wellness business.
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